The Milan exchange. (Milan, Gibson County, Tenn.) 1874-1978, 1887-09-03
ORDINANCE.

The following application by the Tennessee
Central A labama Railway Company, through
its president, Horace Scott, was submitted to
tn Mayor of the city Of Milan. showing the
proposed termini of the railway, with the ac-
companying declaration on the part of the
company that 1t will locate and construct its
railway within one mile of the city Of Milan;
10 the Board of Mayor and Aldermen
Of the City Of Milan, Gibson County,
Tennessee
The Tennessee Central 4 Alabama Railway
Company, a corporation duly chartered an
organized under the general laws of the state
of Tennessee, through its agent and president.
Horace Scott, make application to your board
and city to subscribe for Fifteen Thousand
Dollars of the capital stock of said company,
to be paid for in Coupon Bonds of your city of
saeh denominations that will be most con YEN
lent bearing six per cent. interest per annum,
interest to be paid semi annually at the Office
of your city treasurer on the first days of jan
uary and July of each year, and the bonds
themselves 10 mature in twenty years from
their issuance with interest coupons attached.
The bonds to be delivered to the Tennessee
Central q Alabama Railway Company, its
agents or assignees as follows, to wit One
half, or Seven Thousand Five Hundred Dol
lars, when the road bed shall have been COM
pleted and the cars running regularly thereon
from Trenton TENNESSEE to Milan, Tennessee,
provided that the Board OF Mayor and Alder
men of tho town Of Milan shall at that time
| have assurances satisfactory to them that the
| road will be completed and put in operation
| from Milan, Tennessee, to Lexington, Iennes-
see If the first half of subscription shall not
| have been paid before the road is completed
and Il aims regularly running thereon from
Milan. Tennessee, to Lexington, Tennessee,
1t, together with the other half is to be absO-
lutely payable at that time. That Is to say,
| the whole amount of Fifteen Thousand
| Dollars of Bonds is TO be delivered as above so
soon as the road is com eted as AZORES aid from
Milan to Lexington. Tennessee, or some point
equally digtant frem Milan. The Board of
| Mayor and Aldermen may, however, deliver
half of said bonds, as before mentioned when
the road IL completed from Trenton to Milan,
as aforesaid. If they so elect. AS said bonds
| ar delivered this company will issue and de-
| liver to the city of Milan the same amount of
its capital stock as the amount of bonds de-
HORACE SCOTT. President.
August sth. 1887.
That the said application above set out was
duly submitted by the Mayor Of this munich
pality to the Board of Mayor and Aldermen at
a regular meeting thereof, when said applica-
ton was received and ordered spread upon the
minutes, which has been done.
And, Whereas majority OF Board of Mayor
and Aldermen were of opinion thataR election
should De held to ascertain the will of the
qualified voters whether the subscription
aforesaid rs set out in said application shall
be made.
Therefore. ordered that the City Marshal
will, after advertising for thirty days imme-
diately preceding 18th day of September, 1887
as required by law. he shall on said 18th day
of September. 1887. open and hold an election
at every voting place. or ward, to ascertain
the will of the qualified voters Of said city o.
Milan on the subject of making said subscrip
ton as set out in the application aforesaid.
That. at this election, those who are in favol
of the subscription shall have written o.
printed upon their tickets the words "Fo
Subscription" and those opposed shall hav,
written or printed on their tickets Ne
Subscription.
MAYOR AND ALDERMEN,
L. N. STONE, Mayor.